The Nanotwinning Project is aimed at one of FP7 Thematic priorities - Nanosciences, Nanotechnologies, Materials & new Production Technologies. The project provides a number of events, which are focused on increasing opportunities for collaboration in the field of nanotechnology via twining of IOP with institutions of ERA. The Institute of Physics of the National Academy of Sciences of Ukraine (IOP) is the coordinator of the Project. European partners of Nanotwinning Project, namely Pierre and Marie Curie University (France), the University of Torino(Italy), the University of Tartu (Estonia) are well recognized in the world in the field of nanotechnology and European Profiles (Greece) will assist in creation of strategic plan of development of the IOP. There are 5 Work packages (WPs) provided in the Nanotwinning Project: the 1st WP is aimed at general coordination, achievement of all project milestones and implementation of the Project. The 2nd WP is an integration of scientists of IOP in ERA by experience exchange, creation of joined Surface enhanced spectroscopy laboratory and holding of “Nanobiophysics” conference. The 3rd WP provides involvement of youth into promising directions of research by open days in the Institute, issuance of short-term grants for training, travel grants for participation in conferences and holding of international summer school “Nanotechnology: a Hands-On Experience with Fundamental Background and ways of raising Finance in the science”. The 4th WP is the search for ways of additional funding attraction into science and innovations – it is planned to hold short-term theme workshops, technological meetings, where not only representatives of science and external experts, but also representatives of business will be involved. On the last stage (WP5) the system of strategic management of IOP will be improved by creation of plan of the Institute sustainability for the next 5 years.